Federal Perkins Loan
A Federal Perkins Loan is a low interest (5%) loan for students with exceptional need as determined by filing the FAFSA. The University is the lender and awards the loans on the basis of this need and the availability of funds following Eastern University guidelines. Eastern normally awards these loans to first and second year undergraduate students as a supplement to the Federal Direct Stafford Loan. Effective October 1, 2015, the Federal Perkins Loan program has ended and no new Perkins Loan awards will be issued. For 2015-2016, students who have already received a fall disbursement of their Perkins Loan are still eligible to receive the spring disbursement of their Perkins Loan.
- Meet general eligibility requirements
- Enroll full-time each semester
- File the current year’s FAFSA (Free Application for Federal Student Aid)
- First-time borrowers must complete a Perkins Loan Promissory Note and Entrance Counseling. Notification will be sent to the student from ECSI (a company that works with the Eastern University’s Student Accounts Office).
- Questions? Contact Student Accounts by phone at 610-341-5831, by email at firstname.lastname@example.org, or visit the webpage.
- Disbursement of funds cannot occur until the Perkins Loan Promissory Note is signed.
- The Perkins Loan Exit Interview is required prior to graduation or ceasing to be enrolled at least half-time (6 credits).